DALLAS, Jan. 7, 2020 /PRNewswire/ -- Pieces Technologies ("Pieces" or the "Company"), a healthcare artificial intelligence and technology company that connects health systems and the community to address clinical and social determinants of health, announced today that it has closed a $25.7 million Series B funding round led by healthcare investment firm Concord Health Partners. Existing investors Children's Health of Dallas and OSF Healthcare System, based in Illinois, also participated in the round.
The investment will accelerate the Company's national distribution of its clinical analytics engine, Pieces Decision Sciences (DS), and social determinants of health (SDoH) platform, Pieces Iris®. Since 2016, Pieces has been building integrated communities between health systems and community service providers. Their clients range from hospitals, health systems and health plans to community health clinics and community service providers like food banks, job assistance and educational services.
"Concord is focused on identifying the most promising healthcare companies that address affordability while improving quality and access to care," said James Olsen, Founder and Managing Partner of Concord. "With its novel platform aligning interests and delivering strategic value to both health systems and communities, Pieces fits that profile seamlessly and is an ideal target for the American Hospital Association Innovation Development Fund. We are thrilled to support this exciting cross-sector technology company, and we look forward to helping drive its innovative technology to new communities for the benefit of patients across the country."
"Pieces is focused on building stronger and smarter networks to address the clinical and social determinants of health across a range of conditions, from heart failure to chronic kidney disease," said Ruben Amarasingham, MD, Founder and CEO of Pieces. "We are honored to have Concord Health Partners, a visionary health investment group, join us on our journey to help health systems and community organizations achieve the best outcomes for their patients and clients."
In just under three years, Pieces software has enabled up to a half-day reduction in hospital length-of-stay, sustained reduction in readmissions and has been deployed at several notable health systems and communities across North America. Their client base includes UVA Health System, Northwell Health, Children's Health of Dallas, OSF Healthcare System, Baylor Scott and White Health and Parkview Medical Center, among others.
About Pieces Technologies
Pieces Technologies, Inc. is a healthcare artificial intelligence and technology company that connects health systems and the community to address clinical and social determinants of health through community networks and intelligent software and services. Our solution interprets patient information in real-time and connects health systems and community-based organizations to support healthier outcomes, both inside and outside of hospital walls. Using cloud-based artificial intelligence with clinically-based natural language processing (NLP) and physician-supervised machine learning, our tools help streamline clinician workflows and improve patient outcomes. Combined, our solutions, Pieces DS and Pieces Iris®, create a comprehensive and unique solution for connected community health. For more information about deploying Pieces at your health system, please visit PiecesTech.com or follow @PiecesTech on Twitter.
About Concord Health Partners
Concord Health Partners is a healthcare-focused investment firm with a strategic approach that aligns interests between investors and portfolio companies. Concord is primarily focused on investing in companies that have the potential to enhance the value of care through technologies and solutions that lower costs, improve quality and/or expand access to care. The firm, in partnership with the American Hospital Association, sponsors and manages the AHA Innovation Development Fund, a venture capital fund formed to help hospitals and health systems continue to transform health care and deliver cutting-edge care.
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